Sanghi Polyesters Ltd Company Summary

Sanghi Polyesters Ltd Summary

Incorporated in Jan.86 as Las Vegas Video Films, Sanghi Polyesters (SPL) commenced business in Sep.87 and obtained the current name in Sep.88. It was promoted by the House of Sanghi and is managed by chairman Ram Sharan Sanghi. SPL is a leading manufacturer of synthetic yarn, polyester filament yarn, trilobal and bright yarn. The company had a technical collaboration with Kohap, South Korea, to manufacture PFY, which has been fully absorbed.In Jan.91, the company came out with a Rs 20.4-cr public issue to part-finance a Rs 153-cr PFY project. The chip spinning line commenced operations in 1992. Its initial capacity of 15,000 tpa was enhanced to 25,000 tpa in Oct.93. The company exports its products to south Asia and Europe. SPL has recently introduced a non-touch yarn product from its fully robotic PFY unit in the Indian market. SPL bagged the British Safety Council National Safety Award for the fourth consecutive year in 1995. The PFY expansion project of 30000 tpa increasing the capacity to 55000 tpa was successfully completed. To fund this expansion programme and the backward integration into PTA, the company came out with a GDR issue.